Efore Plc Press release February 15, 2018 at 9.00 p.m.
Efore initiates a review process in order to secure profitability of telecom business and starts cooperation negotiations
As earlier announced (Stock Exchange Release Feb. 14, 2018), Efore has initiated a review process to evaluate different structural alternatives to secure the long-term profitability of its telecom business.
As a part of this process and improving the profitability, Efore commences cooperation procedure in Finland. Negotiations concern entire personnel in Finland. Possible terminations of employment contracts or shifting to part-time work concern maximum 9 persons and possible temporarily lay-offs may last maximum 90 days.
Potential structural changes of Efore’s telecom business will also have an impact on entire Group personnel and future resource allocation.
EFORE PLC
Jorma Wiitakorpi
President and CEO
For further information please contact Mr. Jorma Wiitakorpi, CEO, tel. +358 40 175 8510.
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Nasdaq Helsinki Oy
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Efore Group
Efore is an international Group which develops and produces demanding power products. Efore's head office is based in Finland and its R&D functions are located in Finland, Sweden, Italy and China. Sales and marketing operations are located in Europe, United States and China. In the financial year ending in December 2017, consolidated net sales totalled EUR 69,9 million and the Group's personnel averaged 432. The parent company's share is quoted on the Nasdaq OMX Helsinki Ltd. www.efore.com